Diamond Offshore Drilling (NYSE: DO) reported earnings on April 25. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Diamond Offshore Drilling beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped. GAAP earnings per share dropped.

Gross margins grew, operating margins contracted, net margins shrank.

Revenue details
 Diamond Offshore Drilling tallied revenue of $729.7 million. The 18 analysts polled by S&P Capital IQ anticipated net sales of $710.0 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $1.27. The 30 earnings estimates compiled by S&P Capital IQ predicted $1.14 per share. GAAP EPS of $1.27 for Q1 were 4.5% lower than the prior-year quarter's $1.33 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 48.6%, 120 basis points better than the prior-year quarter. Operating margin was 29.0%, 280 basis points worse than the prior-year quarter. Net margin was 24.1%, 40 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $775.5 million. On the bottom line, the average EPS estimate is $1.26.

Next year's average estimate for revenue is $3.01 billion. The average EPS estimate is $4.59.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,903 members out of 1,947 rating the stock outperform, and 44 members rating it underperform. Among 374 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 359 give Diamond Offshore Drilling a green thumbs-up, and 15 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diamond Offshore Drilling is hold, with an average price target of $74.97.

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